Intellectual Property Law · Licensing · Technology Innovation

How patents can protect your new business 

On Behalf of | Dec 21, 2021 | Patents |

Starting a new business can be extremely exciting as well as financially rewarding. Your friend, family and colleagues will most likely be right behind you to lend support. Unfortunately, the business world can be ruthless at times, and it is also important to protect your business interests. 

Your company may rely on unique technology or processes into which you have invested significant amounts of time and money. If such components are not legally protected, you may be open to duplication attempts from rival firms. Patents are one legal instrument that you may be able to utilize in securing the unique aspects of your company. Outlined below are some of the key reasons why patents can help to protect your new business.

Patents can establish your reputation

Branding, as well as reputation, are keys to success in the commercial realm.  If your business portfolio is founded on technology and innovations that have firm legal protection, your reputation in the business world will only continue to grow. Customers and investors alike tend to be attracted to brands that have a solid reputation as well as unique branding and technology. 

Increasing the value of your company

As a successful business owner, there may come a time where you are simply unable to run day-to-day operations on your own. While this may be considered a good problem to have, it is important that you take the right steps when moving forward. Having sound patents in place is likely to increase the value of your company, which in turn could make your investment proposals more attractive to those who are looking to get on board. 

Obtaining legal protection for the key aspects of your business is a crucial endeavor. As your business continues to grow from strength to strength, it is also important to fully understand your legal rights